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Strickland Brothers | Chesapeake, VA 3480 S Military Hwy

1,674 SF Retail Building Chesapeake, VA 23323 $3,515,326 CAD ($2,100 CAD/SF) 6.25% Cap Rate

Retail Space Virginia Chesapeake 3480 S Military Hwy, Chesapeake, VA 23323

Investment Highlights

  • Brand New Construction Single-Tenant Strickland Brothers 10-Minute Oil Change: Corporate guaranteed lease
  • Strong Economic Area: Chesapeake is home to more than 249,000 residents, 51 international companies, and 20% of the region’s largest employers
  • Chesapeake became the second-largest city in Virginia in 2020, and it continues to be one of the fastest-growing cities in the region
  • Excellent Grocery Anchored Location: Shadow anchored by Food Lion (Top 2% in the chain, Placer.ai)
  • High-Growth Demographics: 106% population growth within 1 mile from 2010 to 2020
  • Chesapeake is included in the Virginia Beach–Norfolk–Newport News, VA-NC MSA: 1.7 million population

Executive Summary

Absolute NNN 15-Year Lease | 250+ Systemwide Units Full Corporate Guaranty | Virginia Beach-Norfolk MSA; 1.8 Million People

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
1,674 SF
Building Class
B
Year Built
2023
Price
$3,515,326 CAD
Price Per SF
$2,100 CAD
Cap Rate
6.25%
NOI
$219,708 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.02
Land Acres
2.48 AC
Zoning
B2 - General Business
Parking
11 Spaces (6.57 Spaces per 1,000 SF Leased)
Frontage
165 ft on South Military Highway

Links

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3480 S Military Hwy, Chesapeake, VA - aerial map view - Image1
3480 S Military Hwy, Chesapeake, VA - aerial map view - Image2
3480 S Military Hwy, Chesapeake, VA - aerial map view - Image3

PROPERTY TAXES

Parcel Number 0252011000134 Improvements Assessment $1,007,948 CAD
Land Assessment $979,206 CAD Total Assessment $1,987,155 CAD

PROPERTY TAXES

Parcel Number
0252011000134
Land Assessment
$979,206 CAD
Improvements Assessment
$1,007,948 CAD
Total Assessment
$1,987,155 CAD
(844) 585-7682

  • Listing ID: 32274800

  • Date on Market: 2024-06-27

  • Last Updated:

  • Address: 3480 S Military Hwy, Chesapeake, VA 23323

The Retail Property at 3480 S Military Hwy, Chesapeake, VA 23323 is currently available For Sale. Contact Hanley Investment Group for more information.

Retail PROPERTIES IN NEARBY NEIGHBORHOODS

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3480 S Military Hwy, Chesapeake, VA for sale Building Photo- Image 1 of 6
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3480 S Military Hwy, Chesapeake, VA for sale Site Plan- Image 2 of 6
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3480 S Military Hwy, Chesapeake, VA for sale Aerial- Image 3 of 6
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Strickland Brothers | Chesapeake, VA | 3480 S Military Hwy
(844) 585-7682 x

Strickland Brothers | Chesapeake, VA | 3480 S Military Hwy

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Jeff Lefko

(844) 585-7682

(844) 585-7682

Bill Asher

(844) 585-7684

(844) 585-7684

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